August 3, 2013 --China’s prescription drug market will total $315 billion in 2020, expanding at a 26% compound annual growth rate from $48 billion in 2012, according to GlobalData; aTyr Pharma, a San Diego startup with a Hong Kong subsidiary, completed a $49 million round to fund its protein drug program; Daewoong Pharma will pay $16 million to acquire Liaoning Baifeng; Foundation Medicine, a US company backed by WuXi PharmaTech, filed for an $86.3 million IPO on NASDAQ; Shanghai Pharma entered an agreement with Shanghai’s Secondary Military Medical University to promote translational medicine; Takeda Pharma was granted CFDA approval for Nesina, a DPP-4 treatment for type 2 diabetes; InSightec Ltd. of Israel reported its ExAblate System, a uterine fibroid treatment, was approved for China marketing; China's State Intellectual Property Office invalidated the patent for Viread, a treatment for HBV and HIV/AIDS developed by Gilead Sciences; and Johnson & Johnson was ordered to pay a fine for enforcing a minimum price policy on its China medical products distributors. More details….